Get exclusive money‑saving offers and guides

Westpac Mortgage Secure

Protect your family home with Westpac Mortgage Secure insurance.

A mortgage on the family home is the biggest debt most of us will ever have, and while you can tailor your repayments and your loan term, the reality is, that if everything goes to plan, you'll be paying off that mortgage well into your 50s and maybe even your 60s. So, what happens if things don't go to plan, and you are suddenly unable to provide for your family? Many people's contingency plan in this situation is to sell the house to help pay the bills and other costs, but what about when that money runs out – what have your family got left to sell? Not to mention that your family would be giving up the one piece of security and stability in an already stressful time, and losing their connection to a family home.

The team of advisers that finder.com.au directs its enquiries to are not currently able to provide quotes for this provider. You may wish to consider our other primary providers instead.

What are the Features and Benefits of Westpac Mortgage Protection Insurance?

When you take out a mortgage, you will likely pay mortgage insurance, however, this is to protect the lender if you default on the loan, to help your family to meet the mortgage repayments if you die, you will need to take out a separate product like Westpac mortgage secure. Westpac mortgage secure can offer:

Up to $750,000 benefitWestpac will offer you coverage from $30,000, up to $750,000 to pay off your mortgage if you die or are diagnosed with a terminal illness where you are not expected to live for more than 12 months.

Add a living benefitThere are more reasons than just death that can keep you from being able to meet your mortgage commitments, so you can also add a living benefit to Westpac mortgage secure, which pays a benefit for conditions such as: cancer, coronary artery bypass surgery, heart attack, stroke, paralysis, and loss of independent existence. You can choose for the living benefit to be 10%, 25% or 50% of the death benefit amount you have chosen. If you make a claim on your living benefit, your death benefit is reduced by the amount of your claim. For example, if you have a living benefit of $200,000 and you have a stroke, your death benefit will be reduced by $200,000. The living benefit will only be paid once for each person insured on the policy.

Easy applicationYou don't have to undergo a medical exam or a blood test to apply for Westpac mortgage secure, or make any health declarations.

Cover for investmentsYou can also take out a Westpac mortgage secure policy to protect the mortgage on an investment property, so that your family can continue to build financial security and independence.

How to Apply for Westpac Mortgage Secure Policy

To be eligible to apply for the Westpac mortgage secure policy, you must be 18 to 59 years old, and the coverage must be for a residential or investment property which is located within Australia. If you have an existing mortgage secure policy, you can apply to increase your death benefit to $750,000 or the balance of your Westpac loan, whichever is the lesser amount.

You can apply for mortgage secure as a joint policy, where up to two borrowers can be covered on the same policy, as long as the policy is protecting a property under a Westpac loan, and both people are listed as mortgagees. Each person can have a different level of cover, up to the lesser of $750,000 or the balance of the Westpac loan at the time you apply. For example, if you and your partner have a Westpac loan of $300,000, you can apply for a death benefit under the mortgage secure policy for $300,000, and your partner could apply for a death benefit of $200,000 and a living benefit of $100,000.

If you have more than one property under mortgage that you would like to protect, you can apply for multiple mortgage secure policies, as long as the total combined death benefit amount across all policies is not greater than $750,000 or the balance of the Westpac loans.

To apply for Westpac mortgage secure you need to work with your Westpac Home Finance Manager, or another Westpac representative to obtain a premium quote for your cover. If you are happy with the cost and the inclusions of the cover, complete the application form. You won't need to undergo a medical exam or blood test to apply for mortgage secure, as an exclusion applies for any pre existing condition that was present in the 10 years prior to your application.

Your home is one of your most important assets to your family, and one which requires the most significant financial commitment. Therefore, it makes sense that something so important in your life is protected with adequate insurance coverage.

Disclaimer - Hive Empire Pty Ltd (trading as finder.com.au, ABN: 18 118 785 121) provides factual information, general advice and services on financial products as a Corporate Authorised Representative (432664) of Advice Evolution Pty Ltd AFSL 342880. Please refer to our FSG - Financial Products. We also provide general advice on credit products under our own Credit Licence ACL 385509. Please refer to our Credit Guide for more information. We can also provide you with general advice and factual information on about a range of other products, services and providers. We are also a Corporate Authorised Representative of Countrywide Tolstrup Financial Services Group Pty Ltd. ABN 51 586 953 292 AFSL 244436 for the provision of general insurance products. Please refer to our FSG - General Insurance. We hope that the information and general advice we can provide will help you make a more informed decision. We are not owned by any Bank or Insurer and we are not a product issuer or a credit provider. Although we cover a wide range of products, providers and services we don't cover every product, provider or service available in the market so there may be other options available to you. We also don't recommend specific products, services or providers. If you decide to apply for a product or service through our website you will be dealing directly with the provider of that product or service and not with us. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide. If you are unsure you should get independent advice before you apply for any product or commit to any plan. (c) 2018.

Thank you for your feedback.

Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.

Important information about this website

finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of major banks, insurers and product issuers.

finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product. You should consider whether the products featured on our site are appropriate for your needs and seek independent advice if you have any questions.

Products marked as 'Promoted' or "Advertisement" are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options and find the best option for you.

The identification of a group of products, as 'Top' or 'Best' is a reflection of user preferences based on current website data. On a regular basis, analytics drive the creation of a list of popular products. Where these products are grouped, they appear in no particular order.

Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment.

We try to take an open and transparent approach and provide a broad based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.

Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.

Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.

Please read our website terms of use for more information about our services and our approach to privacy.